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Icelandic-Linked CDOs See Rating Cuts

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks.

  • 20 Nov 2008

--Cristina Pittelli

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks. Recent credit default swap auctions for the senior obligations of Landsbanki, Kaupthing and Glitnir returned particularly low results, between 1.25% to 6.625%, and recovery prospects for the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

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1 Citi 33,499.81 106 11.84%
2 JPMorgan 26,026.16 75 9.20%
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4 Bank of America Merrill Lynch 23,157.33 74 8.18%
5 Barclays 17,494.57 59 6.18%